No, Bitcoin Ownership is not Highly Concentrated - But Whales are Accumulating

As of January 2021, the Bitcoin supply distribution across these categories looks as follows



Note that there is an uptrend in whale ownership that occurred over the past year. We address this matter further below.

As expected, the number of estimated entities is heavily skewed towards small holders.

We can derive that around 2% of network entities control 71.5% of all Bitcoin. Note that this figure is substantially different from the often propagated "2% control 95% of the supply".